Morgan Lewis has advised Russian online services provider Yandex and its subsidiary MLU on the acquisition of Vezet Group’s call centers and cargo business. Bryan Cave Leighton Paisner reportedly advised the seller.
According to Yandex, Vezet Group’s current shareholders will receive up to USD 178 million in cash as a result of the transaction, with a significant part of the sum contingent on certain integration milestones.
Yandex is a Russian-owned Netherlands-domiciled provider of transportation, search and information, ecommerce, navigation, mobile application, and online advertising services.
The Vezet Group provides ride-hailing and cargo and food delivery services in more than 100 cities in Russia. The company was established in May 2017 as the result of the merger between Saturn and RuTaxi.
The Morgan Lewis team included London-based Partner Tim Corbett and Associate George Taylor and Moscow-based Partner Anastasia Dergacheva and Associates Valentina Semenikhina and Anastasia Kiseleva.